Competitive Agents In Certain And Uncertain Markets
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Competitive Agents In Certain And Uncertain Markets
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Author : Robert G. Chambers
language : en
Publisher: Oxford University Press
Release Date : 2020-11-30
Competitive Agents In Certain And Uncertain Markets written by Robert G. Chambers and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-30 with Business & Economics categories.
For all its elaborate theories and models, economics always reduces to comparisons. Should we build A rather than B? Will I be better off if I eat D rather than C? How much will it cost me to produce F instead of E? At root, the ultimate goal of economics is simple: assessing the alternatives and finding the best possible outcome. This basic mathematical concept underlies all introductions to the field of economics, yet as advanced students progress through the discipline, they often lose track of this foundational idea when presented with real-world complications and uncertainty. In Competitive Agents in Certain and Uncertain Markets, Robert G. Chambers develops an integrated analytic framework for treating consumer, producer, and market equilibrium analyses as special cases of a generic optimization problem. He builds on lessons learned by all beginning students of economics to show how basic concepts can still be applied even in complex and highly uncertain conditions. Drawing from optimization theory, Chambers demonstrates how the same unified mathematical framework applies to both stochastic and non-stochastic decision settings. The book borrows from both convex and variational analysis and gives special emphasis to differentiability, conjugacy theory, and Fenchel's Duality Theorem. Throughout, Chambers includes practical examples, problems, and exercises to make abstract material accessible. Bringing together essential theoretical tools for understanding decision-making under uncertainty, Competitive Agents in Certain and Uncertain Markets provides a unified framework for analyzing a broad range of microeconomic decisions. This book will be an invaluable resource for advanced graduate students and scholars of microeconomic theory.
Markets Information And Uncertainty
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Author : Kenneth Joseph Arrow
language : en
Publisher: Cambridge University Press
Release Date : 1999-01-28
Markets Information And Uncertainty written by Kenneth Joseph Arrow and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-01-28 with Business & Economics categories.
Leading theorists offer insights on the role of uncertainty and information in the market.
Contestable Markets Under Uncertainty
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Author : Appelbaum, Elie
language : en
Publisher: London : Department of Economics, University of Western Ontario
Release Date : 1984
Contestable Markets Under Uncertainty written by Appelbaum, Elie and has been published by London : Department of Economics, University of Western Ontario this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with Competition categories.
Uncertainty In Economics
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Author : Peter Diamond
language : en
Publisher: Academic Press
Release Date : 2014-05-10
Uncertainty In Economics written by Peter Diamond and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-10 with Business & Economics categories.
Uncertainty in Economics: Readings and Exercises provides information pertinent to the fundamental aspects of the economics of uncertainty. This book discusses ho uncertainty affects both individual behavior and standard equilibrium theory. Organized into three parts encompassing 30 chapters, this book begins with an overview of the relevance of expected utility maximization for positive and normative theories of individual choice. This text then examines the biases in judgments, which reveal some heuristics of thinking under uncertainty. Other chapters consider the effect of restricting trade in contingent commodities to those trades that can be affected through the stock and bond markets. This book discusses as well the individual problem of sequential choice and equilibria, which are built around the notion of sequential choice. The final chapter deals with an entirely different aspect of the economics of information and reverts to the assumption that markets are perfect and costless. This book is a valuable resource for economists and students.
Uncertainty In Economic Theory
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Author : Itzhak Gilboa
language : en
Publisher: Psychology Press
Release Date : 2004
Uncertainty In Economic Theory written by Itzhak Gilboa and has been published by Psychology Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
"This is the first collection to include chapters on this topic, and it can thus serve as an introduction to researchers who are new to the field as well as a graduate course textbook. With this goal in mind, the book contains survey introductions that are aimed at a graduate level student, and help explain the main ideas, and put them in perspective."--BOOK JACKET.
Advances And Trends In Optimization With Engineering Applications
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Author : TamØs Terlaky
language : en
Publisher: SIAM
Release Date : 2017-04-26
Advances And Trends In Optimization With Engineering Applications written by TamØs Terlaky and has been published by SIAM this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-04-26 with Mathematics categories.
Optimization is of critical importance in engineering. Engineers constantly strive for the best possible solutions, the most economical use of limited resources, and the greatest efficiency. As system complexity increases, these goals mandate the use of state-of-the-art optimization techniques. In recent years, the theory and methodology of optimization have seen revolutionary improvements. Moreover, the exponential growth in computational power, along with the availability of multicore computing with virtually unlimited memory and storage capacity, has fundamentally changed what engineers can do to optimize their designs. This is a two-way process: engineers benefit from developments in optimization methodology, and challenging new classes of optimization problems arise from novel engineering applications. Advances and Trends in Optimization with Engineering Applications reviews 10 major areas of optimization and related engineering applications, providing a broad summary of state-of-the-art optimization techniques most important to engineering practice. Each part provides a clear overview of a specific area and discusses a range of real-world problems. The book provides a solid foundation for engineers and mathematical optimizers alike who want to understand the importance of optimization methods to engineering and the capabilities of these methods.
Optimal Decisions Under Uncertainty
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Author : J.K. Sengupta
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Optimal Decisions Under Uncertainty written by J.K. Sengupta and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Understanding the stochastic enviornment is as much important to the manager as to the economist. From production and marketing to financial management, a manager has to assess various costs imposed by uncertainty. The economist analyzes the role of incomplete and too often imperfect information structures on the optimal decisions made by a firm. The need for understanding the role of uncertainty in quantitative decision models, both in economics and management science provide the basic motivation of this monograph. The stochastic environment is analyzed here in terms of the following specific models of optimization: linear and quadratic models, linear programming, control theory and dynamic programming. Uncertainty is introduced here through the para meters, the constraints, and the objective function and its impact evaluated. Specifically recent developments in applied research are emphasized, so that they can help the decision-maker arrive at a solution which has some desirable charac teristics like robustness, stability and cautiousness. Mathematical treatment is kept at a fairly elementary level and applied as pects are emphasized much more than theory. Moreover, an attempt is made to in corporate the economic theory of uncertainty into the stochastic theory of opera tions research. Methods of optimal decision rules illustrated he re are applicable in three broad areas: (a) applied economic models in resource allocation and economic planning, (b) operations research models involving portfolio analysis and stochastic linear programming and (c) systems science models in stochastic control and adaptive behavior.
Investment Capital Market Imperfections And Uncertainty
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Author : Robert Lensink
language : en
Publisher: Edward Elgar Publishing
Release Date : 2001-01-01
Investment Capital Market Imperfections And Uncertainty written by Robert Lensink and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-01-01 with Business & Economics categories.
This book presents an up-to-date overview of the theory as well as the empirics of the relationship between investment, financial imperfections and uncertainty. After reviewing the capital market imperfections literature and the empirical results, the authors discuss both traditional investment models with uncertainty and the more modern option based models. They present an overview of empirical results of the modelling of investment under uncertainty. In these examples the effects of capital market imperfections on investment are carefully considered. The authors conclude that there is overwhelming empirical support for a negative uncertainty-investment relationship. This book should appeal to academics with an interest in investment theory, professionals in the financial sector and students of macroeconomics and finance. "Investment, Capital Market Imperfections, and Uncertainty" assumes only a basic knowledge of mathematics and is easily accessible.
The End Of Finance
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Author : Jan Toporowski
language : en
Publisher: Psychology Press
Release Date : 2000
The End Of Finance written by Jan Toporowski and has been published by Psychology Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Capital market categories.
The original theory of finance which grows out of this critique is of interest to students and researchers of financial economics, practitioners in finance and policy-makers.
Real Estate Valuation Theory
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Author : Manya M. Mooya
language : en
Publisher: Springer
Release Date : 2016-03-17
Real Estate Valuation Theory written by Manya M. Mooya and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-03-17 with Business & Economics categories.
This monograph critically reviews and updates real estate valuation theory, which is based on neoclassical economics, in light of developments in heterodox economic theory. Building on a comprehensive historical account of the evolution of value theory, the book uses new institutional economics theory and critical realism as lenses through which problems in standard valuation theory and practice are expatiated, and as the foundation for an alternative theory. The new theory is employed to explain major problems in real estate valuation that are beyond the capability of the standard theory, such as price bubbles in real estate markets, anchoring bias, client influence and valuation under uncertain market conditions.